NBA, NBPA reportedly nearing new CBA deal. What are the key points? Reports: Browns owner Haslam agrees to buy 25% stake in Bucks NBA world reacts to Damian Lillard going off for 71 points Three things to Know: Takeaways from Lakers comeback win over Mavericks Watch Damian Lillard drop 71 points with 13 3-pointers in Blazers win
Both NBA commissioner Adam Silver and NBA chief executive Tamika L. Tremalho said during All-Star Game weekend that they hope to reach a new collective bargaining agreement before the recently set March 31 deadline (where either party can opt out).
The parties have made great progress in recent weeks and there is genuine optimism that a deal can be struck. reports Shams Charania of The Athletic. It’s good for the fans – no summer lockout that could escalate into next season – and just smart business on the part of owners and players. Everyone is making a lot of money, incomes are growing, don’t kill the golden goose.
What are the key points the parties are talking about? Here’s what we know, much of what Chrania reports in their report.
• Luxury tax. This has been a sticking point for some time. Some owners want stricter penalties for owners who go deep into the luxury tax (although thankfully they’ve abandoned the idea of a “spending cap”/hard cap). The talks focused on raising the amount of the luxury tax, which would make it harder to hit the tax, not on over-punishing teams that crossed the line, but on stepping up the hit on deeply taxed teams. From Charania:
Because everything about these dividing lines is entirely negotiable in the new CBA, both parties can remake them to make the small tax cut more manageable and then raise fees for those franchises that want to dive headlong into the tax.
The fact that the parties are close to a compromise on this issue may be the clearest sign that the deal will take place.
• Age limit. The parties are moving towards making 18-year-olds eligible for the NBA draft again, allowing players to go straight from high school to the NBA again — essentially ending the “everything is done” rule. A union made up of NBA veterans is concerned about the work of NBA veterans. Shocking, isn’t it? From Charania:
“… but sources say the union is pushing for conditions that would make it easier for veteran players to care for and guide high school students who join the league. The players union wants to keep the presence of veteran players and not allow newcomers to replace them, especially in the case of teams with high school prospects that enter the NBA.”
How exactly this will look is still unclear. However, this time around, NBA teams are much better prepared to work with young players and develop them than they were a couple of decades ago.
• Smoothing out new revenues. In the next 18 months or so (give or take) a new national television and streaming deal will be worked out between the NBA and its broadcast partners, the deal is expected to at least double the $2.6 billion a year that the league is at currently receives from Disney. /ABC and Turner Sports (TNT). The last time a television deal was signed, the entire cap jumped in one year, giving every team a cap spot and allowing the Warriors to sign. Kevin Duran to the Final. Because of this, 2016 also saw some terrible contracts. This time, this increase in income will be flattened to the limit for several years, avoiding one sharp spike (don’t worry about the players, they will get all their money anyway).
• Changes in contract extension. Expect changes to the contract renewal rules that will make it easier for teams to re-sign players. Right now, teams can only offer an extension for 120% of the last year of the contract, but if it’s a below-market deal, think about it. Kyle Kuzma right now, in his breakthrough year – which means he should be a free agent, even if he wants to re-sign with his current team. This jump can be increased to 150% or more, which gives teams some flexibility in retaining players.
Jimmy and Dee Haslam—Haslam Sports Group, if you will—are going to buy the finished product, just like any professional sports team. The Milwaukee Bucks already have a new revenue-generating arena, and on the court, the best player walks the ground leading a title contender.
Haslem is set to buy a 25% stake in the Bucks from Bucks co-owner Mark Lasry, according to reports from Tim Bontemps of ESPN And Shams Charania from The Athletic. The team’s sale value is estimated at $3.5 billion, which is the second highest price ever put up for sale (the Phoenix Suns team was recently valued at $4 billion). This brings Haslem’s out-of-pocket expenses to $875 million.
This sale has yet to be approved by other league owners, although it is likely. Haslem also owns the Cleveland Browns of the NFL and the Columbus Crew of Major League Soccer.
Haslem bought into this team knowing he would shell out some luxury tax money to keep this team a contender — the Bucks are expected to have a $76 million luxury tax bill on top of their $178 salary. $.2 million (third largest tax paid). team this season after the Clippers and Warriors). The owners have not refused to pay to keep the Bucks a contender—they have won 14 games in a row as of this writing. Keeping this core after this season will become more expensive. Brooke Lopez a free agent (and looking to get a raise from his $13.9 million) and Chris Middleton having a player option and probably looking for more years. Jrue Holiday has a player option in 2024.
It will be a good profit for Lasry, who, along with fellow New York investment firm executive Wesley Edens, bought the Bucks for $550 million in 2014. Although Lasri is selling his stake in the team, he does not give up his real estate. holdings in the Fiserv Forum and Deer District, which is reasonable given the growth in that part of Milwaukee.
Damian Lillard On Sunday, he was on fire with 71 points, a Trail Blazers franchise record and a career best for a veteran. He hit 13 3-pointers and shot 22 of 38 on the night (13 of 22 from deep). It was an epic performance.
2nd most 3 pm games in NBA history (13)
8th player to get 70+ PTS in one game (71)
First player in NBA history with 70+ PTS, 5+ REB, 5+ AST and 10+ 15:00 in one game…
What a night for Damian Lillard 🔥 pic.twitter.com/8MMHxePNUu
— NBA (@NBA) February 27, 2023
The NBA world took notice and reacted on social media, starting with Donovan Mitchellwho had his own 71-point game at the start of the season.
Mom calls me and says @Dame_Lillard equalized your record… now you need to score 72 😂😂😂
— Donovan Mitchell (@spidadmitchell) February 27, 2023
— LeBron James (@KingJames) February 27, 2023
The lady is so great
— Kevin Durant (@KDTrey5) February 27, 2023
71 I mean I’m blown away by the efficiency and it doesn’t throw downtime! 13-22 are bananas pic.twitter.com/VYl2gVolSg
— Channing Frye (@channingfrye) February 27, 2023
— Josh Hart (@joshhart) February 27, 2023
I act like Denzel for real https://t.co/adzaxc50Xk
— Jayson Tatum (@jaytatum0) February 27, 2023
“I’ve never seen anything like it before.”
Coach Billups reflects on Damian Lillard’s historic 71-PT performance. pic.twitter.com/adfOlpf2XK
— NBA (@NBA) February 27, 2023
— Zach LaVine (@ZachLaVine) February 27, 2023
71 at 89.4% eFG at 19 FGA 🎯#greatness https://t.co/VaxT2W9wuU
— Yusuf Nurkic (@bosnianbeast27) February 27, 2023
— Rudy Gay (@RudyGay) February 27, 2023
71 @Dame_Lillard ! A whole bunch 🪣
— Delon Wright (@delonwright) February 27, 2023
If I am Dolla, then tonight I will set a new record 😂😂 💪🏾💪🏾💪🏾💪🏾
— Lou Williams (@TeamLou23) February 27, 2023
OF THEM 71…